Jeremy Levart & Mark Meisner Of Oak Funding Provide $38M Acquisition Loan For Office In Secaucus
FINANCED
$38,000,000
New Jersey
See Similar DealsOffice466,440 SF
Financed 02/18/2025
FINANCED
Jeremy Levart & Mark Meisner Of Oak Funding Provide $38M Acquisition Loan For Office In Secaucus
500 Plaza Drive
See Similar DealsOffice466,440 SF
Financed 02/18/2025
Summary
NEW JERSEY
Asset Type:Office
Price Per Square Foot:$81
Total Square Footage:466,440 SF
Transaction Type:Loan
The asset involved in this transaction is an office property located at 500 Plaza Drive in Secaucus, with a total square footage of 466,440. The loan amount secured for the acquisition of this property is $38,000,000.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $38,000,000
- Address: 500 Plaza Drive
- Market: Secaucus
- Loan Amount: $38,000,000
- Loan Type: Acquisition
- Lender: Jeremy Levart & Mark Meisner - Oak Funding
- Landlord: Signature Acquisitions
The key individuals involved in this transaction are Jeremy Levart and Mark Meisner from Oak Funding, who acted as the lenders for the acquisition loan. Signature Acquisitions is noted as the landlord associated with this property deal.
Players
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$38,000,000.00
Monthly NOI$253,333.33
Monthly Debt Service$240,185.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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